TECH - GM's Concessions Halt Additional Walkouts UAW Says 'Strike Is Working But We're Not There Yet' | Benzinga
The United Auto Workers (UAW) has decided to suspend further strikes against the Detroit Three auto plants following a significant concession from General Motors (NYSE:GM).
According to a Reuters report, GM has shown an unexpected willingness to allow union contracts to cover workers at joint-venture battery plants.
This move by GM could be a game-changer if rivals Ford Motor (NYSE:F) and Stellantis (NYSE:STLA) decide to follow suit. It could pave the way for final agreements that would bolster the UAW’s position as the auto industry shifts towards electric vehicle manufacturing.
“Our strike is working, but we're not there yet,” UAW President Shawn Fain said in a live update on negotiations with the three automakers.
While automakers have more than doubled initial wage hike offers and agreed to raise wages along with inflation, the union is still pushing for higher wages, abolishing a two-tier wage system, and expanding unions to battery shops at all companies.
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